@CONFERENCE{Zollinger2019,title = {Auf Kriegsfuß mit dem Zufall? Lotterien in Österreich, ca. 1700 bis 1740.}, author = {Manfred Zollinger}, year = {2019}, address = {Wien}, language = {DE}, misc = {Habsburg rule and representation / Herrschaft und Repräsentation in der Habsburgermonarchie (1700-1740)}, abstract = {At Odds with Chance? Lotteries in Austria, c. 1700-1740.
Driven by rising financial needs due to wars and ubiquitous poverty, from the late 17th century onwards ever more town and, more importantly, state governments almost all over Europe resorted to lotteries as a source of income.
This paper focusses on the development in the Habsburg Empire. It examines the efforts made to adopt this financial institution. Since little attention has been paid to lotteries in that region and misleading conclusions have been drawn, the aim is to narrow this research gap.
With only a few exceptions the recorded lotteries from 1696 onwards were unsuccesful. Projects presented to establish state lotteries never materialised. The most notorious lottery, set up in 1721 by the Oriental Company, was as big an enterprise as it ended in a financial fiasco. The disaster had harmful economic consequences for many a gambler-investor and eventually entailed the company’s dissolution.
In comparison with other great European powers, Austria’s relative backwardness in lotteries seems to be a matter of fact. It can be argued that the existing central institutions were not yet sufficiently prepared for supporting centralised government sponsored lotteries, while a few lotteries set up by regional and local authorities took rather well. It was not before Maria Theresa’s ascension to the throne and the known administrative reforms, that an effective lottery monopoly was implemented alongside the introduction of the Genovese lotto in 1751.},}

Abstract

At Odds with Chance? Lotteries in Austria, c. 1700-1740.
Driven by rising financial needs due to wars and ubiquitous poverty, from the late 17th century onwards ever more town and, more importantly, state governments almost all over Europe resorted to lotteries as a source of income.
This paper focusses on the development in the Habsburg Empire. It examines the efforts made to adopt this financial institution. Since little attention has been paid to lotteries in that region and misleading conclusions have been drawn, the aim is to narrow this research gap.
With only a few exceptions the recorded lotteries from 1696 onwards were unsuccesful. Projects presented to establish state lotteries never materialised. The most notorious lottery, set up in 1721 by the Oriental Company, was as big an enterprise as it ended in a financial fiasco. The disaster had harmful economic consequences for many a gambler-investor and eventually entailed the company’s dissolution.
In comparison with other great European powers, Austria’s relative backwardness in lotteries seems to be a matter of fact. It can be argued that the existing central institutions were not yet sufficiently prepared for supporting centralised government sponsored lotteries, while a few lotteries set up by regional and local authorities took rather well. It was not before Maria Theresa’s ascension to the throne and the known administrative reforms, that an effective lottery monopoly was implemented alongside the introduction of the Genovese lotto in 1751.